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Bitcoin Technical Analysis: BTC/USD well-supported for a rocket through $4000

  • Bitcoin price is trading in minor positive territory on Tuesday, as the bulls look to regain some upside momentum.
  • BTC/USD is still very much reliant on the underlying ascending trend line, which has been running since February. 
Bitcoin Technical Analysis: BTC/USD well-supported for a rocket through $4000
Ken ChigboKen ChigboIndependent Analyst

BTC/USD 15-minute chart

  • BTC/USD 15-minute chart view, price action is retesting a near-term top area see in early hours of Tuesday. 

Spot rate:                 3980.05

Relative change:      +0.22%

High:                        3984.64

Low:                         3950.36

BTC/USD

Overview
Today last price3980.45
Today Daily Change10.55
Today Daily Change %0.27
 3969.9
 
Trends
Daily SMA203857.58
Daily SMA503706.51
Daily SMA1003684.82
Daily SMA2004895.66
 
Levels
Previous Daily High4015.61
Previous Daily Low
Previous Weekly High3917.33
Previous Weekly Low3783.86
Previous Monthly High4187.25
Previous Monthly Low3338.98
Daily Fibonacci 38.2%3984.67
Daily Fibonacci 61.8%
Daily Pivot Point S13931.14
Daily Pivot Point S23892.39
Daily Pivot Point S33850.15
Daily Pivot Point R14012.13
Daily Pivot Point R24054.37
Daily Pivot Point R34093.13

BTC/USD 60-minute chart

  • Price action is moving within an ascending channel formation, subject to a potential breakout to the downside.

BTC/USD daily chart

  • Long-running ascending trend line still playing a huge part in the bulls push for recovery. 

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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